Bernhard Capital Partners Management LP, an investment firm founded by former Shaw Group chief executive James “Jim” Bernhard, has reached a $750 million target for its debut private equity fund, BCP Energy Services Fund LP.
Bernard Capital launched in 2014 and has closed out the BCP Energy fund with capital commitments of $750 million. Investors include public and corporate pension funds, university endowments, industry executives and Bernhard Capital professionals.
Bernhard Capital focuses on investments in energy services, including midstream or transportation; downstream or refining and marketing; and power sectors.
Bernhard said the company was pleased to have reached its capital target.
“Our strategy is to invest in North American service companies across the midstream, downstream and power verticals, and we are well-positioned to capitalize on the many oil and gas investment opportunities we see on the horizon due to the abundance of oil and gas in North America that must be refined, transported and stored,” he said in a news release.
The fund and its portfolio companies have made 14 acquisitions through four companies: Brown & Root, Epic Piping, ATC Associates and Bernhard LLC.
BCP’s portfolio companies now employ more than 12,000 people.
Bernhard Capital formed Brown & Root in 2015 by combining Wink Engineering and Houston-based KBR Inc.’s industrial services group, making Baton Rouge the newly formed company’s headquarters. Brown & Root employs about 6,000 people.
Environmental consultants ATC relocated its corporate headquarters from Denver to Lafayette following Bernhard Capital’s acquisition. ATC has offices in 70 cities and employs 1,400 people.
Last week, Epic Piping announced a new 400,000-square-foot facility in Abu Dhabi. The company also has manufacturing facilities in Livingston, San Marcos, Texas, and Baton Rouge. Epic describes itself as the fastest-growing turn-key industrial pipe fabrication organization in the world.
Bernhard LLC is a commercial construction and engineering firm.